Quantbot Technologies LP Buys Shares of 11,772 Astec Industries, Inc. $ASTE

Quantbot Technologies LP purchased a new position in shares of Astec Industries, Inc. (NASDAQ:ASTE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,772 shares of the industrial products company’s stock, valued at approximately $720,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Allworth Financial LP acquired a new position in shares of Astec Industries during the second quarter valued at $25,000. iSAM Funds UK Ltd acquired a new stake in Astec Industries in the third quarter worth about $50,000. Farther Finance Advisors LLC grew its position in Astec Industries by 8,994.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,546 shares of the industrial products company’s stock valued at $67,000 after buying an additional 1,529 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Astec Industries by 412.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock valued at $92,000 after buying an additional 1,780 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Astec Industries during the 4th quarter valued at about $127,000. Institutional investors own 93.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Zacks Research downgraded shares of Astec Industries from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a report on Tuesday, August 4th. Finally, Wall Street Zen lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Two analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Astec Industries Stock Up 0.4%

ASTE stock opened at $43.98 on Thursday. The firm has a market cap of $1.01 billion, a PE ratio of 51.74, a P/E/G ratio of 1.19 and a beta of 1.36. Astec Industries, Inc. has a 12 month low of $40.47 and a 12 month high of $65.69. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.52 and a quick ratio of 1.10. The firm has a 50 day simple moving average of $52.11 and a 200 day simple moving average of $54.14.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.10). The business had revenue of $408.10 million during the quarter, compared to analyst estimates of $405.50 million. Astec Industries had a return on equity of 10.26% and a net margin of 1.26%.During the same quarter last year, the firm posted $0.72 EPS. Equities research analysts forecast that Astec Industries, Inc. will post 3.36 earnings per share for the current fiscal year.

Astec Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 10th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, August 10th. Astec Industries’s payout ratio is presently 61.18%.

Astec Industries Profile

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.